AppLovin (NASDAQ:APP) Shares Down 5.5%

AppLovin Co. (NASDAQ:APP)’s stock price was down 5.5% during trading on Wednesday . The stock traded as low as $66.29 and last traded at $67.15. Approximately 1,388,805 shares traded hands during trading, a decline of 67% from the average daily volume of 4,222,926 shares. The stock had previously closed at $71.09.

Analyst Ratings Changes

APP has been the topic of several recent analyst reports. UBS Group raised their target price on AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. Wedbush upped their target price on AppLovin from $58.50 to $67.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. The Goldman Sachs Group lifted their price target on shares of AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, HSBC started coverage on shares of AppLovin in a report on Monday, December 18th. They issued a “buy” rating and a $53.20 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $50.04.

AppLovin Price Performance

The firm’s 50 day moving average is $56.19 and its 200 day moving average is $45.33. The firm has a market cap of $23.67 billion, a P/E ratio of 69.22, a price-to-earnings-growth ratio of 1.43 and a beta of 1.88. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm had revenue of $953.26 million for the quarter, compared to analysts’ expectations of $928.66 million. During the same period in the previous year, the firm posted ($0.21) EPS. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. As a group, analysts anticipate that AppLovin Co. will post 2.48 earnings per share for the current year.

Insider Transactions at AppLovin

In other news, CFO Matthew Stumpf sold 2,775 shares of AppLovin stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the transaction, the chief financial officer now owns 362,264 shares of the company’s stock, valued at approximately $22,931,311.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Craig Scott Billings sold 5,550 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value of $323,731.50. Following the completion of the transaction, the director now owns 12,739 shares in the company, valued at $743,065.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Stumpf sold 2,775 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the sale, the chief financial officer now directly owns 362,264 shares in the company, valued at $22,931,311.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,215 shares of company stock valued at $666,315. Insiders own 12.43% of the company’s stock.

Institutional Trading of AppLovin

A number of institutional investors have recently made changes to their positions in APP. Lindbrook Capital LLC boosted its holdings in AppLovin by 26.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock worth $53,000 after purchasing an additional 281 shares during the last quarter. Xponance Inc. grew its holdings in shares of AppLovin by 2.5% in the fourth quarter. Xponance Inc. now owns 13,664 shares of the company’s stock worth $545,000 after acquiring an additional 334 shares during the period. CWM LLC increased its position in AppLovin by 16.5% during the third quarter. CWM LLC now owns 2,463 shares of the company’s stock valued at $98,000 after acquiring an additional 348 shares during the last quarter. Creative Planning lifted its holdings in AppLovin by 3.7% in the fourth quarter. Creative Planning now owns 10,110 shares of the company’s stock valued at $403,000 after acquiring an additional 361 shares during the period. Finally, Blair William & Co. IL boosted its position in AppLovin by 5.4% in the first quarter. Blair William & Co. IL now owns 7,552 shares of the company’s stock worth $416,000 after purchasing an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.